Many young adults lack financial literacy, economic stability, study finds. Summary: Many young people lack financial literacy and money-management skills, indicating an urgent need for educational programs to help them enter adulthood better equipped to handle their financial affairs, a new study finds.
3 Financial Planning Tips for Young Adults
- Keep an emergency fund. It’s impossible to know when an emergency will happen, but it is possible to plan for it.
- Get in the habit of saving for retirement. Retirement planning might feel ages away, but the key to securing your future is to start saving early.
- Invest in the stock market.
How to Become Rich in 10 Easy Ways
- Add Value. Something many self-made wealthy people have in common is that they are valuable in specific ways.
- Tax Yourself. The concept of saving money is not a new one.
- Create a Plan and Follow It.
- Invest.
- Start a Business.
- Be Grateful.
- Develop Patience.
- Educate Yourself.
What is the target audience?
It depends on your situation and goals, but there are benefits to working with a financial advisor early on. Initially, a financial advisor can help you prioritize goals like eliminating debt and building an emergency fund. An advisor may also be able to help you make decisions about health and life insurance coverage.
English.
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